Invst LLC Acquires New Shares in Essex Property Trust, Inc. $ESS

Key Points

• Invst LLC has recently acquired a stake in Essex Property Trust, Inc., purchasing 2,441 shares valued at approximately $748,000.
• Essex Property Trust's stock has experienced target price adjustments from several analysts, with an average price target of $298.41 and a rating of "Hold".
• A quarterly dividend of $2.57 has been announced for stockholders, representing an annualized yield of 3.8%.

Invst LLC purchased a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,441 shares of the real estate investment trust's stock, valued at approximately $748,000.

A number of other hedge funds have also added to or reduced their stakes in ESS. WPG Advisers LLC purchased a new stake in shares of Essex Property Trust in the 1st quarter worth about $31,000. Ransom Advisory Ltd purchased a new stake in Essex Property Trust in the first quarter worth about $31,000. Zions Bancorporation National Association UT bought a new stake in Essex Property Trust during the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Essex Property Trust during the 1st quarter worth approximately $35,000. Finally, Capital Analysts LLC grew its holdings in shares of Essex Property Trust by 56.3% during the 1st quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 49 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Down 1.0%

Shares of ESS traded down $2.66 during trading hours on Monday, hitting $264.43. The company had a trading volume of 607,910 shares, compared to its average volume of 364,035. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 6.86 and a beta of 0.83. The firm has a fifty day moving average price of $270.15 and a 200-day moving average price of $280.00. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $317.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to analyst estimates of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same period last year, the business earned $3.94 EPS. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. On average, equities research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $2.57 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $10.28 annualized dividend and a yield of 3.9%. Essex Property Trust's dividend payout ratio is 82.64%.

Analyst Ratings Changes

ESS has been the topic of several research reports. Mizuho dropped their price target on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Morgan Stanley dropped their target price on shares of Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Scotiabank reduced their target price on shares of Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, August 5th. BMO Capital Markets lifted their price target on shares of Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Finally, Piper Sandler cut shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $355.00 to $275.00 in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Essex Property Trust presently has a consensus rating of "Hold" and an average price target of $298.66.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.